Parallel Advisors LLC Buys 286 Shares of Raymond James (NYSE:RJF)

Parallel Advisors LLC lifted its stake in shares of Raymond James (NYSE:RJF) by 14.5% during the 4th quarter, HoldingsChannel reports. The firm owned 2,252 shares of the financial services provider’s stock after acquiring an additional 286 shares during the period. Parallel Advisors LLC’s holdings in Raymond James were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in shares of Raymond James by 7.9% during the third quarter. Empowered Funds LLC now owns 3,466 shares of the financial services provider’s stock worth $423,000 after buying an additional 255 shares in the last quarter. Caprock Group LLC increased its holdings in Raymond James by 2.2% in the 3rd quarter. Caprock Group LLC now owns 6,023 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 131 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Raymond James in the third quarter valued at about $390,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Raymond James during the third quarter valued at about $1,587,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Raymond James by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 106,391 shares of the financial services provider’s stock worth $13,029,000 after purchasing an additional 3,150 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Price Performance

Shares of RJF opened at $141.35 on Friday. The firm has a market cap of $28.96 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The business’s 50 day moving average price is $156.76 and its two-hundred day moving average price is $149.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, equities analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. Raymond James’s dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research reports. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. Bank of America boosted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JMP Securities raised their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company lifted their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $167.55.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.